REAL ESTATE | PATRICK BARBER
A pair of recent single-family home sales in Pacific Heights illustrate that properly pricing a home for sale can pay off on multiple levels.
In the 3000 block of Jackson Street, two properties that are practically next door to each other changed hands in early June, with the transactions and homes bearing some similarities. On June 5, 3007 Jackson Street — a six-bedroom home built in 1918 — sold for $6.55 million. Less than a week later, the nearby 3003 Jackson Street — a five-bedroom home built in 1891 — found a buyer for $5.63 million.
Both homes sold in a brisk 12 days — about three times faster than the neighborhood’s pace of single-family sales in May. And both sold for between 6 and 8 percent over the original asking price. The $5 to $7 million range represents a “sweet spot” for home prices in Pacific Heights, and there was no shortage of qualified, motivated buyers interested in both Jackson Street homes. Because these two homes were carefully priced, the owners were able to make speedy sales and pull in some extra money in the process.
Patrick Barber is president of Pacific Union.
Filed under: Real Estate